Credit Unions are being challenged by numerous big fintech disruptors. This is an undisputable fact. But these aren’t the typical competitors Credit Unions are used to dealing with, such as big banks. Rather, big fintech outliers like Amazon, PayPal, Facebook, Google and Walmart are slowly morphing into viable financial institutions. Read More Understanding Fintech Disruptors
From Hawaii to New York City to Alaska, and points between, Credit Unions are continuing the longterm trend of consolidation through mergers and acquisitions. This calculated growth strategy is changing the way in which both executives and members view and experience the Credit Union industry. Read More Mergers and Acquisitions
When a financial institution engages a vendor in contract negotiations for a new or existing financial services technology platform, the process often becomes muddled and terms of service become unclear. Expertly executing this process is critical, as a wrong decision will adversely impact day-today operations, ultimately diminishing member experience and employee confidence. Read More Art of Negotiation
A couple readying themselves for marriage must understand their respective partner as well as they possibly can. As such, before they say “I do” on that joyous occasion, they must perform respective due diligence. They have “engaged” with this person day-in and day-out celebrating their strengths and supporting their weaknesses. While some couples will opt for a prenuptial agreement, others place their trust in the bond of love. Read More When Should Credit Unions Say “I Do”
Senior executives at financial institutions across the nation, and abroad, are missing key opportunities to cut costs and improve revenue optimization during this current recession. To this end, a progressive approach to auditing respective e-business and technology contracts is required. Read More Cost Cutting Initiatives
In order to remain competitive, Credit Unions must continually investigate how they can operate more efficiently. This is achieved by offering products and services that maintain or exceed member expectations. Thus, the prime motivation for converting to a new solution is usually the realization of an under-performing core data processing platform, budgetary concerns or both. Read More In-House or Service Bureau
When approaching the overarching and varied concept of expanding, or in some cases launching, a member business service program, take a deep breath and proceed with caution. Deciphering the differences between retail and business services is no small task. Read More Key Considerations to Establishing a Member Business Services Program
Benjamin Franklin said: “When you’re finished changing, you’re finished.” While he was likely speaking about individuals, his message can be easily applied to organizations and businesses. Without transformation, innovation and continued prosperity are greatly diminished, if not lost. Read More Preferred and Future Technologies
For many 2009 and 2010 were years marked by struggle and hardship. The economy was the great equalizer. Both individuals and organizations were impacted to varying degrees. The majority of forecasters had it right: it would be years of hunkering down and waiting. Senior level executives followed this directive with most tightening the proverbial belt and watching with hushed breath as the bold storm slowly blew across the landscape. Read More Mobile Revolution
When Credit Unions do their respective due diligence and investigate alternative payment system solutions, a myriad of questions and concerns regarding offerings arise. All too often C-level executives hold to the position: “If it’s not broken don’t fix it.” It is no longer prudent to be content with the status quo – options exist. Read More Alternative Payment System Solutions